A. O. Smith (NYSE:AOS) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

A. O. Smith (NYSE:AOS) announced its earnings results on Tuesday. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01), Briefing.com reports. A. O. Smith had a return on equity of 31.22% and a net margin of 14.67%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. A. O. Smith updated its FY 2024 guidance to 3.950-4.100 EPS and its FY24 guidance to $3.95-4.10 EPS.

A. O. Smith Stock Up 1.8 %

Shares of NYSE:AOS traded up $1.42 during trading on Thursday, reaching $82.18. 1,505,607 shares of the stock were exchanged, compared to its average volume of 956,711. A. O. Smith has a 1-year low of $64.14 and a 1-year high of $92.44. The stock has a fifty day moving average of $83.68 and a two-hundred day moving average of $83.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.65 and a quick ratio of 1.06. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.

A. O. Smith Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.28 dividend on an annualized basis and a yield of 1.56%. A. O. Smith’s dividend payout ratio (DPR) is presently 33.16%.

Analyst Ratings Changes

A number of research firms recently commented on AOS. Oppenheimer reaffirmed a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. Stifel Nicolaus upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating and boosted their price target for the stock from $97.00 to $98.00 in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group boosted their target price on shares of A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a report on Monday, July 8th. Finally, Citigroup increased their price target on A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, A. O. Smith has an average rating of “Hold” and a consensus target price of $89.29.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.